Vanguard Group Inc. Raises Holdings in Live Oak Bancshares, Inc. $LOB

Key Points

• Vanguard Group Inc. increased its holdings in Live Oak Bancshares by 1.0%, now owning approximately 5.83% of the company, valued at $70.85 million after purchasing an additional 26,481 shares.
• Live Oak Bancshares recently declared a $0.03 dividend to be paid on September 15, representing a significant yield of 30.0%, with a payout ratio of 9.84%.
• Wall Street analysts have responded positively, with Keefe, Bruyette & Woods upgrading the stock from "market perform" to "outperform" and raising the target price from $37.00 to $43.00.

Vanguard Group Inc. increased its holdings in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 1.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,657,737 shares of the bank's stock after buying an additional 26,481 shares during the quarter. Vanguard Group Inc. owned 5.83% of Live Oak Bancshares worth $70,855,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LOB. GAMMA Investing LLC lifted its position in Live Oak Bancshares by 4,595.5% during the 1st quarter. GAMMA Investing LLC now owns 9,438 shares of the bank's stock worth $252,000 after acquiring an additional 9,237 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Live Oak Bancshares by 100.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 38,802 shares of the bank's stock worth $1,034,000 after acquiring an additional 19,457 shares during the period. Raymond James Financial Inc. acquired a new stake in Live Oak Bancshares during the 4th quarter worth about $5,277,000. Rice Hall James & Associates LLC lifted its position in Live Oak Bancshares by 20.2% during the 1st quarter. Rice Hall James & Associates LLC now owns 155,471 shares of the bank's stock worth $4,145,000 after acquiring an additional 26,085 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in Live Oak Bancshares by 16.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 145,117 shares of the bank's stock worth $3,869,000 after acquiring an additional 20,430 shares during the period. 63.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods raised Live Oak Bancshares from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $37.00 to $43.00 in a report on Tuesday, August 19th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $44.33.

Live Oak Bancshares Price Performance

NASDAQ LOB traded up $0.15 during trading hours on Thursday, reaching $38.78. The company's stock had a trading volume of 92,169 shares, compared to its average volume of 290,731. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of 26.73 and a beta of 1.82. Live Oak Bancshares, Inc. has a 1-year low of $22.68 and a 1-year high of $50.57. The company's 50-day moving average is $32.43 and its two-hundred day moving average is $29.52.

Live Oak Bancshares Announces Dividend

The firm also recently declared a sep 25 dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be issued a $0.03 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a yield of 30.0%. Live Oak Bancshares's dividend payout ratio is presently 9.84%.

Live Oak Bancshares Company Profile

Live Oak Bancshares, Inc operates as the bank holding company for Live Oak Banking Company that provides various banking products and services in the United States. It operates through two segments, Banking and Fintech. The company accepts various deposit products, including noninterest-bearing demand, as well as interest-bearing checking, money market, savings, and time deposits.